New Issue: BofA sells $3.45 million contingent income autocallable yield notes on Russell, S&P

By Wendy Van Sickle

Columbus, Ohio, March 7 – BofA Finance LLC priced $3.45 million of contingent income autocallable yield notes due March 31, 2023 linked to the worst performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent monthly coupon at an annual rate of 9.5% if each underlying index closes at or above its 80% coupon barrier on the relevant observation date.

The notes will be called at par plus coupon if each index closes above its initial level on any monthly determination date after six months.

If the notes have not been called, the payout at maturity will be par unless either index closes below its 70% downside threshold during the life of the notes and either index finishes below its initial level, in which case investors will lose 1% for every 1% that the lesser-performing index finishes below its initial level.

The notes are guaranteed by Bank of America Corp.

BofA Securities, Inc. is the selling agent.

Issuer:	BofA Finance LLC
Guarantor:	Bank of America Corp.
Issue:	Contingent income autocallable yield notes
Underlying indexes:	Russell 2000 index, S&P 500 index
Amount:	$3,445,000
Maturity:	March 31, 2023
Coupon:	9.5% annualized, payable monthly if each index closes at or above its coupon barrier on the corresponding observation date
Price:	Par
Payout at maturity:	Par unless either index closes below its downside threshold during the life of the notes and either index finishes below its initial level, in which case investors will lose 1% for every 1% that the lesser-performing index finishes below its initial level
Call:	At par plus coupon if each index closes above its initial level on any monthly determination date after six months
Initial levels:	2,048.089 for Russell, 4,373.94 for S&P
Coupon barriers:	1,638.471 for Russell, 3,499.15 for S&P; 80% of initial levels
Downside thresholds:	1,433.662 for Russell, 3,061.76 for S&P; 70% of initial levels
Pricing date:	Feb. 28
Settlement date:	March 3
Selling agent:	BofA Securities, Inc.
Fees:	0.5%
Cusip:	09709UA65

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.